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Archive for December 14th, 2009

Home Rentals In North Dakota

Monday, December 14th, 2009

It is a place which is known for its diverse culture and adventure. The bequest and reflections of traditional values of a society of European and Scandinavian cultures is prevalent throughout North Dakota. And along that, if experiencing cowboy adventure and western culture is your dream, then North Dakota is a perfect place for you. Various recreation activities which attract travellers are hunting, horse riding, biking and of course water sports adventure. Lots of adventurous activities, shopping, rodeos, history and cuisines: – this is all about North Dakota. But, have you ever though that while holidaying where will you stay? The best means to take accommodation in North Dakota is North Dakota home rentals.

North Dakota home rentals are just as taking home on rent at holidaying destination. They provide comfort and amenities of home. North Dakota home rentals can be in the form of condo, bungalow, resort, cottage, apartment etc. They are available in different sizes. And you can choose from them as per your needs and requirements.

Televisions, DVD, washer, dryer etc are some of the facilities being offered in North Dakota home rentals. Along that, North Dakota home rentals also embrace of fully furnished kitchen, in which you can cook any type of cuisine for your family and friends.

North Dakota home rentals are spacious and multi roomed. It is seen that hotels or any other means of accommodation are not at all spacious. Thus, accommodation at North Dakota home rentals gives freedom of action, that is, you can relax any where you want.

There are two ways to book North Dakota home rentals that are:

• Through travelling agency

• Or from the owner of the home rental

Due to the advancement in the information technology, booking North Dakota home rentals is just a matter of single click. You can also gather information regarding place and available home rentals in North Dakota through internet.

The Innovative Bank Of North Dakota

Monday, December 14th, 2009

Only three of fifty states are now solvent, meaning they have the revenues to meet their state budgets; and one of them is North Dakota. It is an unlikely candidate for the distinction. It is a sparsely populated state of less than 700,000 people, largely located in isolated farming communities afflicted with cold weather. Yet since 2000, the state’s GNP has grown 56%, personal income has grown 43%, and wages have grown 34%. The state not only has no funding issues, but this year it actually has a budget surplus of $1.2 billion, the largest it has ever had.

North Dakota boasts the only state-owned bank in the nation. The Bank of North Dakota (BND) was established by the state legislature in 1919 specifically to free farmers and small businessmen from the clutches of out-of-state bankers and railroad men. The bank’s stated mission is to deliver sound financial services that promote agriculture, commerce and industry in North Dakota. By law, the state must deposit all its funds in the bank, which pays a competitive interest rate to the state treasurer.

The state rather than the FDIC guarantees the bank’s deposits, which are plowed back into the state in the form of loans. The bank’s return on equity is about 25%, and it pays a hefty dividend to the state, which is expected to exceed $60 million this year. In the last decade, the BND has turned back a third of a trillion dollars to the state’s general fund, offsetting taxes. The former president of the BND is now the state’s governor.

The BND avoids rivalry with private banks by partnering with them. Most lending is originated by a local bank. The BND then comes in to participate in the loan, share risk, and buy down the interest rate. The BND provides a secondary market for real estate loans, which it buys from local banks. Its residential loan portfolio is now $500 billion to $600 billion. Guarantees are also provided for entrepreneurial startups, and the BND has ample money to lend to students (over 184,000 outstanding loans). It purchases municipal bonds from public institutions, and it backs loans made to new farmers at 1% interest. The BND also has a well-funded disaster loan program, which helps explain how Fargo, when struck by a disastrous flood recently, managed to avoid the devastation suffered by New Orleans in similar circumstances.

North Dakota has also managed to avoid the credit freeze, through the simple expedient of creating its own credit. It has led the nation in establishing state economic sovereignty. In California and other states, workers and factories are sitting idle because the private credit system has failed. An injection of new money from a system of publicly-owned banks on the model of the Bank of North Dakota could thaw the credit freeze and bring spring to the markets once again.